What steps do I need to take to properly dissolve my business in Georgia?

To properly dissolve a business in Georgia, there are several steps that must be taken.

1. File Articles of Dissolution with the Georgia Secretary of State - This document officially notifies the state that the business is ceasing operations. A fee of $100 must be paid.
2. Notify All Creditors and Debtors - Notify all creditors and debtors that the business is dissolving, and that any outstanding debts or obligations should be addressed. This must be done in writing.
3. Terminate Business Licenses and Permits - Cancel any licenses or permits held by the business.
4. Pay Any Outstanding Taxes and Fees - All taxes and fees owed to the state of Georgia must be paid before dissolution can be completed.
5. Liquidate and Distribute Assets - Liquidate any remaining assets and distribute any proceeds according to the terms of the business's operating agreement or bylaws.

It's important to note that failure to properly dissolve a business in Georgia can result in legal and financial consequences. For example, the business may still be taxed and responsible for legal and tax obligations, even if it is no longer operating. Therefore, it is recommended that businesses seek the guidance of a licensed attorney to ensure a smooth and legal dissolution process.